IDEAS home Printed from https://ideas.repec.org/a/cup/nierev/v189y2004ip99-109_10.html
   My bibliography  Save this article

Social Networks: Their Role in Access to Financial Services in Britain

Author

Listed:
  • Meadows, Pamela
  • Ormerod, Paul
  • Cook, William

Abstract

Almost one in ten adults in Britain do not use mainstream financial services. Most of them are not in paid employment. However, most people without paid work have accounts. Two hypotheses have been put forward: (i) reluctance by financial institutions to serve low-income customers; and (ii) information failure on the part of non-consumers. Using two different data sources, we find that non-consumers of financial services are distinguishable from consumers only by belonging to social networks where financial services usage is relatively low. As social networks play a key role in transmitting information, this supports the information failure hypothesis.

Suggested Citation

  • Meadows, Pamela & Ormerod, Paul & Cook, William, 2004. "Social Networks: Their Role in Access to Financial Services in Britain," National Institute Economic Review, National Institute of Economic and Social Research, vol. 189, pages 99-109, July.
    • Handle: RePEc:cup:nierev:v:189:y:2004:i::p:99-109_10
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0027950100010590/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Anna Nagurney & Tina Wakolbinger & Li Zhao, 2006. "The Evolution and Emergence of Integrated Social and Financial Networks with Electronic Transactions: A Dynamic Supernetwork Theory for the Modeling, Analysis, and Computation of Financial Flows and R," Computational Economics, Springer;Society for Computational Economics, vol. 27(2), pages 353-393, May.
    2. Loutfi, Ahmad Amine, 2022. "A framework for evaluating the business deployability of digital footprint based models for consumer credit," Journal of Business Research, Elsevier, vol. 152(C), pages 473-486.
    3. Ormerod, Paul, 2007. "Extracting deep information from limited observations on an evolved social network," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 378(1), pages 48-52.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:nierev:v:189:y:2004:i::p:99-109_10. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://edirc.repec.org/data/niesruk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.